India’s fisheries sector plays a crucial role in the country’s economy, contributing to income generation, employment, and food security. As one of the fastest-growing primary producing sectors, it provides employment to 14.5 million people and sustains the livelihood of the 28 million fishermen community. India is recognized as the second-largest fish-producing country in the world, accounting for 7.56% of global production. This vibrant sector contributes about 1.24% to India’s Gross Value Added (GVA) and over 7.28% to agricultural GVA.
Pradhan Mantri Matsya Sampada Yojana (PMMSY)
PMMSY, launched in September 2020, aims to enhance fish production and double the export earnings. The scheme provides financial support to acquire technologically advanced fishing vessels, deep-sea fishing vessels, and fishing boats and nets for traditional fishers. PMMSY aims to boost fish production to 220 lakh metric tons by 2024-25 with an average annual growth rate of around 9%. The scheme envisions generating about 55 lakh direct and indirect employment opportunities in the fisheries sector over the next five years.
Aquaculture Decoded
Aquaculture broadly involves the farming of aquatic organisms in controlled aquatic environments for commercial, recreational, or public purposes. It encompasses the breeding, rearing, and harvesting of plants and animals in all types of water environments. Aquaculture serves several purposes including food production for human consumption, rebuilding of populations of threatened and endangered species, habitat restoration, wild stock enhancement, baitfish production, and fish culture for zoos and aquariums.
Tilapia Aquaculture
Tilapia, also referred to as “aquatic chicken,” has emerged as one of the most productive and internationally traded fish foods worldwide. Its culture has become commercially successful due to its swift growth and low maintenance cultivation. Tilapia is tolerant of diverse aquaculture environments and can be farmed in brackish or saltwater and in pond or cage systems.
The State of Fisheries in India
Fishing, encompassing marine, coastal, and inland areas, provides food, nutrition, and income sources to millions globally. However, the sustainability of global fishery resources is threatened by illegal, unreported, and unregulated fishing. India’s fisheries sector is recognized as a potent force for providing employment and sustaining the livelihood of the country’s fishermen community. Despite facing several issues during the Covid-19 pandemic, India achieved all-time high exports of marine products worth USD 7,165 million from April to February 2021-22.
Challenges to Fisheries Sector
The Food and Agriculture Organization points out that nearly 90% of the global marine fish stocks are fully exploited or overfished. Discharge of harmful substances like plastics into water bodies causes devastating consequences for aquatic life. The changing climate also poses significant challenges to the fisheries sector.
Government Initiatives for Fisheries
The government has introduced several initiatives to bolster the fisheries sectors, such as Fisheries and Aquaculture Infrastructure Development Fund (FIDF), Blue Revolution, Kisan Credit Card (KCC) extension, and Marine Products Export Development Authority. The Technology Development Board (TDB), under the Ministry of Science and Technology, has extended support to the Tilapia Aquaculture Project with Israeli Technology, inspired by PMMSY.
Understanding Kisan Credit Card (KCC)
Introduced in 1998, the KCC scheme provides timely credit support from the banking system under a simplified procedure to farmers for their cultivation and other needs. The scheme was extended in 2004 to cater to farmers’ investment credit requirements for allied and non-farm activities.
